According to a recent survey of talent recruiters for Fortune 1000 companies conducted by Bayer Corporation, science, technology, engineering and mathematics (STEM) workers are still in short supply and high demand with eighty-nine percent reporting that competition is fierce to fill open STEM jobs with four-year STEM degree holders. In addition, at both traditional and non-traditional STEM companies, job creation is on the rise while the talent pool available remains stagnant. However, some talent acquisition leaders have a different belief: That there is not a talent shortage at all. A report from the Economic Policy Institute in DC concludes that the US has more than enough people to fill most STEM positions, but because of the current state of the recruiting industry, open positions still aren’t being filled due to competition from non-STEM companies where STEM skills are increasingly attractive, and are offering more competitive pay and benefits than their STEM counterparts.
Whether You Agree or Disagree That There is a STEM Talent Shortage, the STEM Talent Landscape Looks Like This:
A shortage of degree holders, a growing trend of STEM graduates securing jobs outside the field, and job creation on the rise.
The Answer is Employing New Talent Acquisition Strategies Internally and Externally and Take Back Talent
For STEM and non-STEM companies alike, vacant STEM positions result in lower productivity, limited business growth, decreased revenue and ultimately, a hindered competitive edge. STEM recruiting is an increasingly critical factor for the overall health of our nation and its companies.
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Talent Management Alliance